Risk: Still On?

The gains of late have been impressive, Bespoke Investment Group reports a 15% lift for the S&P 500 in just the last 50 trading days. Economic data in the US appears to be sending mixed signals at best, with strong job growth and weakness by just about every other metric. The larger foreign central banks are still being very accommodative because they have to be. All of this is likely contributing to the disconnect between fundamentals and market performance.

It was a big big weekend starting with the annual Prescott Basin Ops Drill (wildland fire related) that I have been involved in planning for the last five or six years. This year we had live fire for the time in about 12 years. Then in a bit of a whirlwind situation my wife and I flew to Italy where I am posting this from. I will have more about this later in the week but we just landed and are a little short on sleep. We’re going to be moving around a bit but hopefully the last picture on this post from Milan is an interesting start.

The first picture is from the Basin Ops drill. The yellow truck is from Bureau of Land Management (BLM). We don’t really have any BLM land here so we don’t see them very often. The green truck is of course from the Forest Service.

As we were taking off from the airport, this was staged on the runway fro some reason.